Ring Energy (NYSEAMERICAN:REI) Announces Quarterly Earnings Results

Ring Energy (NYSEAMERICAN:REI) issued its quarterly earnings data on Thursday. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03, FiscalAI reports. The business had revenue of $102.34 million for the quarter, compared to the consensus estimate of $91.87 million. Ring Energy had a positive return on equity of 5.55% and a negative net margin of 68.02%.

Ring Energy Stock Down 0.9%

NYSEAMERICAN:REI traded down $0.01 during trading hours on Friday, hitting $1.11. 5,076,198 shares of the company traded hands, compared to its average volume of 3,233,781. The firm’s 50-day simple moving average is $1.38 and its 200-day simple moving average is $1.35. The company has a market cap of $289.18 million, a PE ratio of -1.22, a PEG ratio of 0.28 and a beta of 0.85. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.48. Ring Energy has a one year low of $0.83 and a one year high of $2.00.

Analysts Set New Price Targets

REI has been the topic of a number of research analyst reports. Mizuho started coverage on shares of Ring Energy in a report on Wednesday, September 2nd. They set a “neutral” rating and a $2.00 price objective on the stock. Bank of America initiated coverage on shares of Ring Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.00.

Ring Energy Company Profile

Ring Energy, Inc (NYSE American: REI) is an independent oil and natural gas exploration and production company. The company focuses on the acquisition, development, exploration and operation of oil and gas properties, with an emphasis on generating production from established assets.

Ring Energy’s operations are concentrated in the Permian Basin, one of the most significant oil-producing regions in the United States. Its properties are primarily located in the Northwest Shelf of the Permian Basin in southeastern New Mexico and West Texas.